When Will the Bank of Japan Act?
Japanese stocks fell, extending two weeks of losses, as the yen rallied for a seventh day and a report showed machine orders dropped for the first time in three months. Starting in the first days of 2016, foreign traders have been pulling out of Tokyo’s stock market for 13 straight weeks, the longest stretch since 1998. Overseas investors dumped $46 billion of shares as economic reports deteriorated, stimulus from the Bank of Japan backfired and the yen’s surge pressured exporters. The benchmark Topix index is down 17 percent in 2016, the world’s steepest declines behind Italy. UBS Investment Strategist Geoffrey Yu discusses Japan and Abenomics with “On the Move” host Guy Johnson in London and Bloomberg’s Hans Nichols in Berlin.
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